Board Meeting Details

The Board of Directors meeting was held on Tuesday, November 10, 2026, commencing at 3:30 PM and concluding at 4:15 PM. The meeting approved the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026.

Financial Results Approval

The Board resolved to approve and adopt the standalone and consolidated unaudited financial results along with the Limited Review Report issued by statutory auditors Pavuluri & Co. The results were reviewed and recommended by the Audit Committee. The financial results include a certificate furnished by the Managing Director and CFO under Regulation 33(2)(a) of SEBI LODR Regulations, 2015.

Standalone Financial Performance (All amounts in lakhs rupees)

Quarter Ended September 30, 2026:

  • Total Income: ₹1,525.87
  • Revenue from Operations: ₹1,096.50
  • Other Income: ₹429.37
  • Total Expenses: ₹740.23
  • Employee Benefits Expense: ₹604.36
  • Finance Costs: ₹16.43
  • Depreciation & Amortization: ₹1.23
  • Other Expenses: ₹118.21
  • Profit Before Tax: ₹785.64
  • Tax Expense: ₹198.05 (Current Tax)
  • Profit After Tax: ₹587.90
  • Basic EPS: ₹2.65

Half Year Ended September 30, 2026:

  • Total Income: ₹3,226.89
  • Revenue from Operations: ₹2,280.49
  • Other Income: ₹946.40
  • Total Expenses: ₹1,604.23
  • Profit Before Tax: ₹1,622.66
  • Tax Expense: ₹408.55 (Current Tax)
  • Profit After Tax: ₹1,215.17
  • Basic EPS: ₹5.49

Consolidated Financial Performance (All amounts in lakhs rupees)

Quarter Ended September 30, 2026:

  • Total Income: ₹3,514.48
  • Revenue from Operations: ₹2,920.82
  • Other Income: ₹593.66
  • Total Expenses: ₹2,585.18
  • Profit Before Tax: ₹929.30
  • Tax Expense: ₹242.96 (Current Tax)
  • Profit After Tax: ₹686.65
  • Basic EPS: ₹3.10

Half Year Ended September 30, 2026:

  • Total Income: ₹7,628.73
  • Revenue from Operations: ₹5,734.25
  • Other Income: ₹1,894.48
  • Total Expenses: ₹5,083.64
  • Profit Before Tax: ₹2,545.09
  • Tax Expense: ₹594.53 (Current Tax)
  • Profit After Tax: ₹1,951.62
  • Basic EPS: ₹8.81

Subsidiary Information

The consolidated results include wholly owned US subsidiary Softsol Resources Inc, whose results were not audited/reviewed by auditors but were reviewed and certified by management. The subsidiary's financials as of September 30, 2026:

  • Total Assets: ₹269.06 crores
  • Q2 FY27 Total Revenues: ₹17.13 crores
  • Q2 FY27 Net Profit After Tax: ₹0.99 crores
  • Q2 FY27 Comprehensive Income: ₹1.54 crores
  • H1 FY27 Total Revenues: ₹34.56 crores
  • H1 FY27 Net Profit After Tax: ₹7.36 crores
  • H1 FY27 Comprehensive Income: ₹27.25 crores
  • H1 FY27 Net Cash Outflows: ₹3.70 crores

Auditor Reports

Pavuluri & Co, Chartered Accountants (FRN: 012194S) issued independent auditor's review reports for both standalone and consolidated financial results. The reports concluded that nothing came to their attention causing them to believe that the statements contain material misstatements. The review was conducted in accordance with SRE 2410 issued by ICAI.

For the consolidated results, the auditors noted they did not review the interim financial information of Softsol Resources Inc but relied on management-certified results. Their conclusion is not modified in respect of this reliance.

Financial Position (As at September 30, 2026)

Standalone:

  • Total Assets: ₹19,574.21 lakhs
  • Total Equity: ₹17,037.75 lakhs
  • Equity Share Capital: ₹2,214.55 lakhs
  • Other Equity: ₹14,823.20 lakhs
  • Non-Current Liabilities: ₹1,594.99 lakhs
  • Current Liabilities: ₹941.47 lakhs

Consolidated:

  • Total Assets: ₹29,969.36 lakhs
  • Total Equity: ₹21,000.96 lakhs
  • Equity Share Capital: ₹2,214.55 lakhs
  • Other Equity: ₹18,786.41 lakhs
  • Non-Current Liabilities: ₹1,662.12 lakhs
  • Current Liabilities: ₹7,306.28 lakhs
  • Borrowings: ₹5,157.57 lakhs (current)

Cash Flow Statements

Standalone for H1 FY27:

  • Net Cash from Operating Activities: ₹2,565.97 lakhs
  • Net Cash Used in Investing Activities: ₹(170.46) lakhs
  • Net Cash Used in Financing Activities: ₹(2,608.93) lakhs
  • Net Decrease in Cash: ₹(213.42) lakhs
  • Cash at End: ₹82.96 lakhs

Consolidated for H1 FY27:

  • Net Cash from Operating Activities: ₹1,201.94 lakhs
  • Net Cash Used in Investing Activities: ₹(451.72) lakhs
  • Net Cash Used in Financing Activities: ₹(1,569.34) lakhs
  • Net Decrease in Cash: ₹(819.12) lakhs
  • Cash at End: ₹379.02 lakhs

Additional Information

  • The company has a single business segment "IT/ITES" as per IND-AS 108
  • Previous period figures have been regrouped where necessary
  • The financial results are available on the company website www.covance.ai
  • The results will be published in newspapers as required by SEBI Regulations 33 and 47